bittensor

The OpenTensor Foundation of the Bittensor ecosystem has announced the native payment mechanism Gamma Tokens. Users and AI agents will be able to use the same Bittensor wallet to access subnets that adopt this standard and pay service fees without needing to register separate accounts or apply for API keys for each subnet.Users can obtain Gamma payment credits using TAO or the corresponding subnet's Alpha tokens. If using TAO, the protocol will buy and destroy the subnet's Alpha tokens in the same transaction to generate Gamma credits; if already holding the corresponding Alpha tokens, they can be directly destroyed to generate credits.

The decentralized machine learning network Bittensor announced on Twitter the launch of a quantum-resistant wallet, supporting three post-quantum signature schemes: ML-DSA-65, Falcon-512, and Falcon-1024, with ML-DSA-65 having been standardized by the National Institute of Standards and Technology (NIST). The quantum-resistant wallet supports both cold keys and hot keys, covering operations such as TAO transfers, staking, and validator weight settings.This update also provides an optional automatic key rotation feature: once a user-signed transaction is recorded on-chain, the wallet will automatically switch to a new signing key, and the old key will no longer authorize transactions for that account. The account address, balance, and staking remain unchanged, and there is no need to change the mnemonic phrase each time. The quantum-resistant wallet without key rotation does not require registration, while enabling key rotation requires registration and a one-time permanent lock of 0.2 TAO. Existing wallets can continue to be used, and users can migrate existing funds and stakes to the new account through transfers or cold key exchanges.

According to SubConnect, its latest Bittensor revenue index shows that the annualized revenue generated by the subnet in the Bittensor ecosystem has risen to approximately 70 million USD. Last month it was about 50 million USD, and two months ago when the index was first released it was about 35 million USD, with a month-on-month growth rate of approximately 40%.

According to BBX data, the global capital markets disclosed the latest developments yesterday regarding the issuance of digital asset ETFs, AI node operations, and treasury clearing. The core information is as follows:Franklin Templeton launched two "Dividend Reinvestment Bitcoin" ETFs, listed on Nasdaq: Asset management giant Franklin Templeton announced the official launch of two innovative fund products, the Franklin U.S. Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin U.S. Innovation Bitcoin DRIP Index ETF (FIBT). Both ETFs have an initial asset allocation set at 95% stocks and 5% Bitcoin, with the core mechanism being the systematic reinvestment of dividends generated from the underlying stocks into Bitcoin. The index will be re-evaluated quarterly to ensure Bitcoin maintains its minor allocation weight. Among them, FBEQ covers approximately 500 of the largest U.S. companies by market capitalization, with a management fee rate of 0.09%; FIBT focuses on covering 100 large non-financial companies listed on Nasdaq, with a fee rate of 0.19%.KR1 purchased and staked 5,000 TAO, entering the decentralized AI infrastructure of Bittensor: London Stock Exchange-listed company KR1 announced that it has officially launched infrastructure operations on the decentralized AI network Bittensor. The company recently purchased and staked 5,000 TAO in the secondary market, supporting network validators to earn mining rewards. KR1 disclosed that, based on the network reward rate as of October 28, the annualized infrastructure income from this deployment is approximately 6.6% of its current total TAO holdings. In the future, KR1 will regularly disclose the scale of its TAO holdings and related node income in its monthly unaudited update reports.Ruihe Smart Technology sold 38.76 Bitcoins, cashing out over 3.12 million dollars to supplement working capital: Hong Kong-listed company Ruihe Smart Technology issued an official announcement stating that the company recently sold 38.76 Bitcoins held on its balance sheet in the open market. Excluding related transaction costs, the total value of this asset liquidation is approximately 3.1219 million dollars. The company clearly stated that the proceeds from this sale of crypto assets will be used as general working capital for the company.

On October 29, KR1 plc, a company listed on the main board of the London Stock Exchange that focuses on on-chain infrastructure, announced the launch of its technical infrastructure operations on the decentralized artificial intelligence network Bittensor. The company stated that it has recently acquired 5,000 network-native assets TAO and has initiated staking as part of its technical infrastructure strategy. Based on the reward rate observed on October 28, the company estimates that the annualized infrastructure income is approximately equivalent to 6.6% of the current value of the deployed TAO holdings.The announcement stated that Bittensor is a layer blockchain that supports subnets, covering services such as AI inference, computing power, training, and prediction, where independent suppliers compete for network rewards based on performance. KR1 supports the assessment of service provider performance through staking and receives a portion of the network rewards. There is no mandatory unbonding period for TAO unstaking, allowing the company to retrieve its holdings immediately after unstaking. Rewards can be retained to expand the scale of productive assets or can be liquidated for subsequent investments and operational costs. The company will also disclose its TAO holdings and related infrastructure income in monthly unaudited updates.Keld van Schreven, Managing Director and Co-Founder of KR1, stated: "As artificial intelligence enables more complex tasks to be performed by software, the demand for infrastructure related to supply-side intelligence is expected to grow significantly. Bittensor introduces open competition for the supply of AI services, and the company is focused on how its incentives are forming services that lead to continuous customer payments, as well as how to deploy TAO holdings to enhance the value and income potential of productive digital assets per share." KR1 claims to be the only publicly listed company on the main board of the London Stock Exchange that focuses on on-chain infrastructure, holding and operating productive digital assets on the relevant network.

Subnet Summer announced that the August edition of the SubConnect Bittensor Revenue Index shows that Bittensor has officially entered the "Revenue Era." Currently, 24 to 25 subnets are generating actual commercial revenue, and it is expected that by the end of the year, the number of revenue-generating subnets will increase to 35 to 40; the total annual ecosystem revenue is estimated to be between 28 million and 35 million USD, and it is expected to exceed 100 million USD by the end of 2026.In addition, revenue is beginning to provide direct financial support for the token economy. About 14 subnets have launched revenue-driven Alpha token buyback programs, which are expected to reach 20 to 25 by the end of the year. Business activities are concentrated in three major areas: infrastructure, enterprise-level AI, and applied AI. The report points out that the criteria for measuring subnet maturity are increasingly shifting towards customer adoption rates rather than benchmark scores. Token releases have provided funding support for the first phase of Bittensor, while customers are beginning to fund the next phase.

According to the official announcement from Chainlink, Bittensor's TAO token has landed on Robinhood Chain through the bridge Forever Money built on the Chainlink Cross-Chain Interoperability Protocol (CCIP), achieving a 1:1 native existence of TAO in the second major chain environment.

According to Protos, AI shopping agent developer ORO disclosed that it suffered losses of approximately $630,000 due to a suspected North Korean hacker attack. The attackers sent spoofed Microsoft Teams links to ORO employees through a compromised Telegram account, inducing them to install malicious extensions, and after nearly a month of data theft, stole 147,000 Alpha tokens on July 13. ORO is highly confident that the attack originated from the North Korean hacker group Sapphire Sleet.ORO also admitted to security negligence—due to insufficient hardware wallet support in the Bittensor protocol, the company "temporarily" set the owner keys to software wallets, violating its internal principle of prioritizing hardware wallets, which led to the keys being stolen from the compromised computer. ORO stated that it is working with exchanges, law enforcement, and Bittensor ecosystem partners to recover the stolen assets and emphasized that its subnet is operating normally, and other wallets, user data, and validator signing keys were not affected.

OKX will launch TAO/USDT (Bittensor) spot trading on June 30 at 20:00. Users can deposit funds on the same day starting at 11:00, place advance orders from 19:00 to 20:00, and withdraw funds starting at 22:00. Please prepare in advance.

Digital Currency Group (DCG) subsidiary Yuma announced the launch of a market-wide fund aimed at providing investment opportunities in the Bittensor network's native token TAO and its subnet ecosystem through a single investment strategy. Currently, Bittensor has launched 128 subnets, with a total asset value exceeding $900 million.DCG founder and CEO Barry Silbert stated that most AI investments are currently flowing to a few centralized legacy companies, which are now trying to enter the public market. Bittensor offers an alternative: an open, decentralized network built by builders and innovators at the forefront of artificial intelligence development.

Bittensor co-founder const posted on the X platform, detailing the current state of decentralization of the project, future roadmap, and goals. Bittensor has not yet achieved decentralization at the economic incentive layer, which is still led by the core team, including const himself, two engineers, and a core group of contributors. The project has been live for over 5 years, with no pre-mining, and has 128 subnet teams and over 20 core validator teams, achieving decentralization at the ownership distribution level. The team chose to rapidly iterate at the cost of "maintaining centralization" rather than slowly advancing "democratic" decision-making.Regarding future update plans, Bittensor will promote validators to re-enter the competitive mechanism while opening liquidity pools for two-way investment to symmetrize the market and prevent on-chain signals from being manipulated. Additionally, a belief mechanism will be introduced to grant voting rights to Alpha token holders. In the coming weeks, updates will also be made to TaoFlow and its derivatives, further fine-tuning the issuance distribution algorithm to optimize the distribution method of inflation. Const expects to complete the construction of core mechanisms within the next year and a half, at which point the three pillars of incentive alignment, value optimization, and true ownership will operate in synergy, ultimately achieving complete decentralization by abandoning centralized control.

According to Coindesk, Bittensor developers have submitted a new proposal called "Root Reborn," which aims to change the revenue distribution mechanism for Root network stakers.Currently, the revenue for Root network stakers is paid by selling subnet tokens for TAO, which continues to create selling pressure on subnet tokens. The new proposal will allow validators to actively choose a combination of supported subnets and reinvest the revenue originally intended for sale into these subnets, forming a basket of assets that compounds over time.This move will convert the ongoing selling pressure into net buying demand for subnet tokens, while transforming validators from passive revenue channels into active selectors similar to fund managers. Stakers will still receive revenue and can exchange subnet assets for TAO at any time.The proposal has currently only been submitted to the testnet and has not yet been deployed to the mainnet. It is reported that TAO has dropped 28% in the past 12 months, and the current annualized yield for Root network staking is approximately 17%.

According to CoinDesk, Bittensor co-founder Ala Shaabana stated at the Proof of Talk summit in Paris that Bitcoin's computing power exceeds that of the top 100 supercomputers in the world combined by 600,000 times, demonstrating the scale of distributed computing.Shaabana pointed out that true computing power no longer belongs to isolated corporate data centers, but to open, global networks. Shaabana believes that through programmatic goal setting, open networks attract talent and computing power far more efficiently than traditional enterprises. The long-term bullish logic is no longer primarily based on technology, but driven by debt, liquidity, and a decline in trust in traditional sovereign systems.

General Tensor announced the completion of its acquisition of Backprop Finance, a subsidiary of Tensorplex Labs, which is one of the largest decentralized trading platforms by trading volume in the Bittensor ecosystem. After the transaction is completed, General Tensor will cover about one-third of the trading volume on the Bittensor network.Previously, General Tensor had raised a total of $5 million through Pre-Seed and Seed rounds, with investors including Digital Currency Group (DCG), Lvna Capital, and Good Morning Holdings, which is led by Lok Lee and supported by Goldman Sachs. Backprop Finance currently mainly serves the trading of Bittensor Dynamic TAO (dTAO) subnet Alpha tokens, providing token exchange and subnet screening.

Bittensor co-founder Jacob Robert Steeves responded to the Covenant AI incident, stating that he was "deeply shocked" by the events of the past few days and accused Covenant AI founder Samuel Dare of causing serious harm to the protocol and community, betraying the trust of investors and users. He apologized to users who suffered losses due to the incident.Steeves stated that the original intention of Bittensor was to combat greed and selfishness in human nature, promoting AI to be collectively owned by all participants through a permissionless mechanism. He emphasized that while this incident exposed vulnerabilities in the system, it would also encourage the protocol and community to further enhance their risk resilience.Regarding future directions, Steeves proposed advancing the "Locked Stake" mechanism, introducing a "time + stake" commitment dimension at the protocol layer to improve transparency and investor protection, thereby reducing similar risks. He noted that this plan was originally designed with the participation of Samuel Dare.Additionally, he mentioned that the development related to subnets 3, 39, and 81 would continue to be driven by the community, and the overall functionality and vision would not change. Steeves emphasized that Bittensor remains one of the most decentralized AI protocols currently and will continue to promote the development of open AI, with plans to move towards training larger-scale models. In the future, they will train a 1 trillion parameter model.

Bittensor co-founder Const (@const_reborn) responded on Twitter to recent allegations regarding Covenant AI. Const stated that he has no authority to pause emissions, and that the previous sale of a portion of alpha positions in three subnetworks was because these subnetworks were not operational and were in a high ratio of code destruction state. The impact of this transaction on emissions is consistent with the buying and selling behavior of ordinary TAO holders, and he does not enjoy any special privileges.Regarding management authority, Const clarified that it was Samuel himself who abandoned his Discord channel, and he did not remove his administrator role; he only temporarily restricted his ability to delete posts that honestly criticize and then restored it. Additionally, he emphasized that the scale of the token sell-off was less than 1% of his total investment in the team, and stated that exercising the rights to buy and sell tokens under the dTao system is fundamental to supporting the operation of the system.According to previous reports from ChainCatcher, the main subnetwork developer on Bittensor, Covenant AI, announced its withdrawal from Bittensor. Covenant AI founder Sam Dare stated that the reason Bittensor attracts builders, miners, validators, and investors into this ecosystem is because of its promise not to be controlled by any single entity. But this promise is a lie.

According to Theblock, Covenant AI, the main subnet developer on Bittensor, has announced its exit from Bittensor. Covenant AI founder Sam Dare stated that Bittensor attracted builders, miners, validators, and investors into this ecosystem because of its promise of not being controlled by any single entity. However, this promise is a lie.Dare listed Bittensor co-founder Jacob Steeves as a major reason for the departure. He claimed that Jacob has been exercising authority over the subnet to regain control of Covenant, as Covenant has grown too large to manage.It is reported that after Covenant's announcement, the price of Bittensor's TAO token plummeted significantly, dropping from $338 to $285 in a short period, a decrease of 15%.

According to SEC filings, Grayscale submitted an S-1 amendment for its Bittensor (TAO) trust.